Resolved to implement a comprehensive fiscal relief program and a “Scheme of payment facilities to cancel tax obligations and social security resources expired by April 30 of the current year.”
economic portfolio explained it’s a loan stock regulate by 456,063 million pesos Including 656,121 taxpayers, of which 48.1% are micro and small companies, 11.5% are medium-sized and the remaining 31.2% are small taxpayers and monotaxpayers.
AFIP: How is the new payment scheme for SMEs
Payment facility plan covers “tax liability and Social Security resources—including interest and penalties— expired on 30 April Previous, imposed fines, supplementary duties for import or export taxes and liquidation of the said taxes included in the procedure for contravention, as well as interest thereon.
At the same time, it was resolved that the plan “includes loans under discussion at administrative-judicial headquarters as well as plans that have expired until the validity of this general resolution”, while “refinancing of existing plans is not allowed”. and does not include December 2022 benefits and maturity of personal assets—individuals and companies”.
With regard to the features of the program, MSME They will be able to refinance their tax and customs debts in up to 84 instalments, while those with social security obligations will be able to do so in 36 instalments.
On the other hand, with loans for withholdings and assumptions, they can be regularized in 12 installments.
The applicable interest rate for this segment of companies will be equal to 60% of the compensatory interest. The program will terminate in case taxpayers register 3 unpaid installments after 60 days.
For medium-sized companies in the section, tax and customs debt can be refinanced in 48 instalments, social security contributions in 24 instalments, and loans for withholding and assumptions in 6 instalments.
In this case, the applicable rate will be equal to 60% of the compensatory interest and the scheme will terminate with 2 unpaid instalments.
AFIP: How tax relief will be for taxpayers
For the rest of the taxpayers, which includes “companies that did not process the Mipyme Certificate, human individuals and medium-sized companies Tranche II”, they will be able to refinance tax debts 36 installments, contributions to social security and customs obligations in 18 installments; and reimbursement of withholding and assumptions in 3 installments with a rate equal to 100% of the interest.
in this section Civil associations and NGOs are not included Since for these cases the conditions established in the scheme for micro and small companies will apply.
Officials resolved that for all cases and categories of taxpayers, the program would be terminated when cash dollar purchase operations with liquidation are found “since adhesion to the scheme”.
AFIP Tax Relief: How Much Savings Does It Represent?
The tax agency cited the example that within the current plan of 120 installments for a loan of 1,200,000 pesos, the current installment is 71,500 pesos and with this new tax relief program, the installment would be 32,500 pesos, representing a savings of 55%.
For the 120 installment plan, with a loan of 5,400,000 pesos, the current installment is 336,000 pesos and with the tax relief, the installment would be 153,400 pesos, representing a savings of 54%.
In the case of a plan with 89 installments and a loan of 100,000 pesos, the current installment will go from 5,600 pesos to 2,860 pesos, representing a savings of 49%.
Finally, for a plan of 68 installments for 68,000 pesos and which currently pays 4,400 pesos, the new relief brings an installment of 2,405 pesos, which means a savings of 45%.